The Australian dollar has slid to its lowest level against its US counterpart since early June, as a rally in the greenback continued. The trend continued when Federal Reserve chair Janet Yellen signalled last week that a December rate rise in the United States was increasingly likely. National Australia Bank foreign exchange strategists have forecast the Aussie dollar to drop towards US70c during 2017, and even lower in 2018. Stock markets around Asia Pacific were also subdued by the continued strength of the Trump effect. “A rise in interest rates is, generally speaking, not good thing for stocks, especially for emerging markets.

Source: The Guardian November 21, 2016 07:41 UTC